Fauji Fertilizer Joins Arif Habib Consortium to Revive PIA

The Arif Habib Group has clinched the PIA bidding with a massive Rs135 billion offer. Arif Habib recently confirmed that Fauji Fertilizer is set to join his consortium as a strategic partner, creating a formidable alliance to overhaul the national carrier.

Why Fauji Fertilizer Withdrew to Join Later

Fauji Fertilizer opted out of the initial PIA auction to bypass strict bidding rules. According to the Privatization Commission, bidders who fail in the auction cannot join the winner later. As per The News report, by withdrawing, Fauji Fertilizer remained a “free agent,” allowing it to now join the Arif Habib consortium post-victory. Arif Habib expressed strong confidence in this partnership, noting that the combined strength of Arif Habib Limited and Fauji Fertilizer will accelerate the airline’s turnaround.

The Arif Habib Group outbid the Lucky Group in a 13-round televised battle. While Lucky Cement pushed the price high, the Habib group secured 75% of PIA by crossing the government’s reference price.

• Fleet Expansion: The consortium plans to grow the fleet from 18 to over 60 aircraft.
• Job Security: Arif Habib has assured employees they are the airline’s “stars” and will face no layoffs for at least one year.
• Investment: About 92.5% of the bid money will be reinvested directly into PIA sold operations for modernization.

The Future of the National Carrier

With Fauji Fertilizer providing deep financial backing, the Arif Habib consortium aims to restore PIA to its former global glory. Muhammad Ali, Adviser on Privatization, stated that this deal proves the government’s commitment to transparent economic reforms. The consortium also holds a 90-day option to buy the remaining 25% of the shares.